It’s Black Friday on Dalal Street
Sensex tanks 295 points in bear market
Key benchmark indices, on Friday, snapped the last five days’ winning streak, dragged down by profit booking in oil and gas on the one hand and on the other, political worries over reports of Central Bureau of Investigation (CBI) has raided offices of Kalaignar TV — a TV channel owned by the family of the ruling DMK in Tamil Nadu — as a part of 2G scam probe.
The BSE 30-share Sensex was down 295.30 points or 1.6 per cent to close at 18,211.52 points. The index rose 184.15 points at the day’s high and fell 347 points at the day’s low in late trade. The S&P CNX Nifty was down 87.50 points or 1.58 per cent to settle at 5,458.95 points in the day’s closing. The Nifty hit high of 5,599.25 in early trade, its highest level since 28 January 2011. The broader markets underperformed as the BSE Mid-Cap index fell 1.98 per cent or 133 points to 6662 and the BSE Small-Cap index fell 2.35 per cent or 193 points to 8131 points. About 2,140 shares declined on BSE while 776 scrips advanced and a total of 64 shares remained static.
Foreign institutional investors (FIIs) bought shares worth a net Rs 86.10 crore on Thursday, lower than an inflow of Rs 175.60 on February 16, 2011. The next major trigger for the market is Union Budget to be unveiled on February 28, 2011.
